$195M State Aid For Detroit Gets Lawmakers' Approval

By Maria Chutchian

Law360, New York (May 22, 2014, 5:37 PM ET) -- The Michigan House of Representatives on Thursday passed a series of bills that will allocate $194.8 million for Detroit’s retirement systems, in a move members hope will hasten the city’s exit from bankruptcy and help rehabilitate its financial situation.

The 11-bill package was approved by the full House — to applause from its members — just a day after a five-person committee signed off on the legislation. The bill that specifically provided for the $194.8 million received a 75-35 vote.